Fintech Spotlight

Tag: automotive

  • Hyperdrives raises €3M pre-seed to scale patented cooling tech for EV motors

    Hyperdrives raises €3M pre-seed to scale patented cooling tech for EV motors

    Munich startup secures funding from Rethink Ventures and others to industrialize waveguide cooling, boosting efficiency and cutting costs.

    Hyperdrives, a Munich-based startup developing next-generation electric motors, has raised an oversubscribed €3 million pre-seed round led by Rethink Ventures. First Momentum Ventures, SDAC Ventures, Acequia Capital, 2100 Ventures, Prototype Capital, and angel investors including Andreas Cornet, Charlie Songhurst, and Stefan Tietze also participated.

    Founded in 2021, Hyperdrives has developed waveguide cooling, a patented method that channels coolant directly through copper conductors in motor windings. The company says this design delivers up to three times higher continuous current densities compared with today’s motors, resulting in smaller, lighter, and more efficient systems.

    “Over three product generations, we have proven that this breakthrough in motor performance does not require exotic materials or new production concepts” said Robin Renz, co-founder and CEO. “With the new tailwind from our investors, we will strengthen our team to prove service life under automotive standards and prepare for industrialisation.”

    Unlike hypercar-focused technologies, Hyperdrives targets mass-market EVs, positioning its cooling system as the “turbocharger for electric motors” by offering motorsport-level performance at automotive-level cost and scalability. The platform is compatible with existing hairpin production lines, enabling OEMs and suppliers to license the technology without overhauling manufacturing processes.

    The startup has already built a customer base across automotive, aviation, and marine industries, generating more than €1 million in 2024 sales prior to raising venture capital. Hyperdrives also manufactures drive systems with integrated SiC inverters in small to medium volumes.

    “Our breakthrough lies in bringing waveguide cooling to industrialisation” added Michael Numberger, co-founder and CTO. “Direct cooling in the copper conductor allows us to achieve up to three times higher current densities than today’s series motors.”

    “Hyperdrives solves one of the toughest trade-offs in e-mobility: maximum performance and efficiency with true scalability” said Matthias Schanze, General Partner at Rethink Ventures. “Their waveguide platform is the first to combine motorsport power density with VW-level costs and manufacturing.”

    The new funding will be used to validate motor lifetimes under automotive testing standards, scale manufacturing processes, and expand the customer base. Hyperdrives will also present an updated product portfolio at IAA Mobility in Munich next week.

  • Bumper secures £8M series B extension for EU expansion

    Bumper secures £8M series B extension for EU expansion

    Automotive fintech company Bumper has closed an £8 million Series B extension round, marking its second funding extension and bringing total Series B investment to £20 million. The London-based firm plans to deploy the capital across European markets while scaling its payment platform and business intelligence services.

    The funding round drew continued backing from automotive-focused investors including Autotech Ventures, Suzuki Global Ventures, Porsche Ventures, InMotion Ventures from JLR, and Shell Ventures. The investment coincides with Bumper reaching its tenth year of operations and launching a new corporate identity alongside an enhanced website.

    Platform Expansion and Product Development

    Bumper intends to use the fresh capital to accelerate deployment of its Bumper Pro platform and AutoBI services throughout the UK and European markets. The company also plans strategic hiring to support operational scaling across these regions.

    The Bumper Pro platform enables automotive retailers to leverage direct payment solutions, reducing card transaction costs while automating administrative workflows. AutoBI, acquired by Bumper in the previous year, delivers real-time business intelligence tools designed for car retailers and original equipment manufacturers.

    Financial Performance and Growth Trajectory

    Chief Executive Officer and Co-Founder James Jackson highlighted the company’s operational profitability and ambitious growth targets. “We are now operationally profitable and on track to surpass £1 billion in gross merchandise value in 2025, representing a tripling of our GMV year-on-year” Jackson stated.

    The executive emphasized how Bumper has transformed from its original focus on interest-free repair financing into a comprehensive digital payments and software-as-a-service platform. The expanded service portfolio now targets automotive retailers and manufacturers with solutions designed to streamline operations, reduce costs, and improve customer experiences.

    Investor Perspectives on Market Opportunity

    Tony Rimas, Venture Partner at Autotech Ventures, praised the company’s evolution since their initial 2021 investment. “We have been impressed by its remarkable revenue growth in the UK and across Europe, its expanded portfolio of payment solutions and the team’s ability to execute on its ambitious plans” Rimas commented.

    The investor expressed particular enthusiasm for opportunities presented by Bumper’s acquisitions of AutoBI and Cocoon Payments, alongside the rollout of the Bumper Pro platform across target markets.

    Strategic Partnerships and International Expansion

    Kaihei Takagi, Director of Suzuki Global Ventures, indicated broader strategic discussions beyond the initial buy-now-pay-later focus. The automotive investor noted potential collaboration opportunities with Suzuki Motor Corporation resulting from Bumper’s proactive merger and acquisition strategy.

    “We look forward to deepening these strategic conversations and supporting Bumper’s continued expansion across Europe, Japan and other regions” Takagi stated, highlighting the international scope of the company’s growth ambitions.

    Market Context and Competitive Landscape

    The automotive fintech sector has seen increased investor interest as traditional car retail operations seek digital transformation solutions. Payment processing, financing options, and business intelligence tools have become critical components for dealers managing evolving customer expectations and operational efficiency demands.

    Bumper’s approach combines multiple service offerings under a single platform, potentially creating competitive advantages through integrated solutions. The company’s focus on reducing transaction fees while providing operational automation addresses key concerns for automotive retailers managing thin margins.

    The successful funding extension demonstrates sustained investor confidence in automotive technology solutions, particularly those targeting the European market. With established relationships among major automotive corporations and venture funds, Bumper appears positioned to capitalize on continued digitization trends within the automotive retail sector.

    Industry observers will likely monitor Bumper’s progress toward its £1 billion gross merchandise value target, as achieving this milestone would represent significant scale within the automotive software market.